Morgan Stanely gives an equal-weight call on Paytm, says management confident of achieving adj EBITDA break-even target by sept 2023. Doesn’t see any significant risk to its payment margin w.r.t regulations
CLSA gives a buy call on Paytm, says management explained business model & gave insights on its payments & lending biz. Co expects to become free cash flow positive in the next 12-18 months
CLSA gives a buy call on Bandhan Bank, says over medium-term its strategy remains diversification to non-MFI categories. Co to increase exposure to states beyond West Bengal and Assam within MFI
Motilal Oswal gives a neutral call on Bandhan Bank, says management spelt out its plans to diversify in terms of product & geographical mix. Asset quality-related issues are likely to peak in 3Q, should normalize from Q4
Morgan Stanely gives an underweight call on MCX, says average daily traded value a key driver of MCX's profits & share price. In November 2022, ADTV was up approx 19% MoM to Rs 470 bn
Cut in Windfall Tax on domestic crude oil <$10/bbl fall in Brent during last fortnight. This still kept post-windfall tax crude realisation at $78/bbl